Ex-Tesco man Potts takes the helm at Morrisons

MORRISONS has today confirmed former Tesco director David Potts will become its chief executive, replacing Dalton Philips who departed earlier this month.

The Manchester-born 57 year-old will start work at his £850,000-a-year job on March 16 and faces a tough start to life at the Bradford-based group as he seeks to reverse the supermarket’s fortunes.

It has been the weakest performer of the Big Four, as the impact of discount supermarkets and Morrisons’ late arrival to convenience stores and online shopping have left it lagging behind its rivals.

The appointment reunites Mr Potts with new Morrisons chairman Andrew Higginson and chief financial officer Trevor Strain, who all worked together at Tesco during Sir Terry Leahy’s tenure as chief executive.

Mr Potts and Mr Higginson left the retailer’s board in the aftermath of the appointment of Philip Clarke as Sir Terry’s successor and they also come from the same town – Bury, in Greater Manchester.

The new chief executive received an enthusiastic welcome from his chairman, who described Mr Potts as “the best retailer I have worked with in 25 years in the industry”.

Mr Higginson added: “Having worked alongside him for 15 years, I know he will bring to Morrisons a focus on the customer, a track record of delivery, flair, talent, and immense energy to his new role. He will lead our colleagues in the business from the front, and with distinction.”

“David’s skills are complementary to those of our excellent CFO, Trevor Strain, and I believe we have the makings of a good team. I would like to thank Trevor for his support over the last few weeks.”

Mr Strain and Mr Higginson had taken on extra responsibilities following the departure of Dalton Philips last week.

Mr Potts had been Tesco’s longest-serving director, starting out as a shelf stacker in 1973 before rising through the ranks and becoming chief executive of its Irish businesses in 1997. He joined the Tesco board and was first responsible for the company’s Stores and Supply Chain business before bcoming chief executive of its Asian business.

Since leaving Tesco in 2011 he has acted as a retail expert to several international advisory and private equity businesses and he was awarded a CBE in 2012.

The avid Manchester City fan said: “Customers and Morrisons are a great combination to serve. This is a great British business with real potential and it is an honour to have been selected.”